Before you buy your first home, you have to know yourself and know what you want.
Here are a few questions to help you get started:
- Do you like to move a lot?
- Do you prefer to use your savings to carry out your projects, such as travelling or buying the car of your dreams?
- Do you appreciate the fact that you don’t have to worry about regular maintenance?
- Do your financial obligations keep you awake at night?
If you answered “yes” to any of these questions, then perhaps you’re not ready to buy a home. Even if you have several good reasons to do so, you also have to take into account the reasons why you may not want to.
Remember that buying a home is one of the most important emotional and financial decisions of your life. You must prepare yourself to make a knowledgeable decision.
Tip: List the advantages and disadvantages before you make a decision.
Advantages of renting / Disadvantages of buying
- I don’t have to mow the lawn.
- I don’t have to take care of any repairs that might be needed.
Advantages of buying / Disadvantages of renting
- I’ll have a yard where my kids can play.
- I can modify my home if I want to.